Adjustments to Net Income—Indirect Method Omni Corporation's accumulated depreciation—equipment account increased by $4,
Posted: Wed May 04, 2022 4:22 pm
Adjustments to Net Income—Indirect Method
Omni Corporation's accumulated depreciation—equipment account
increased by $4,100 while $2,600 of patent amortization was
recognized between balance sheet dates. There were no purchases or
sales of depreciable or intangible assets during the year. In
addition, the income statement showed a gain of $3,100 from the
sale of investments.
Reconcile a net income of $46,200 to net cash flow from
operating activities.
$ ?
Omni Corporation's accumulated depreciation—equipment account
increased by $4,100 while $2,600 of patent amortization was
recognized between balance sheet dates. There were no purchases or
sales of depreciable or intangible assets during the year. In
addition, the income statement showed a gain of $3,100 from the
sale of investments.
Reconcile a net income of $46,200 to net cash flow from
operating activities.
$ ?